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Home Based Business - Advantages, Disadvantages, and Tips

by June Van Klaveren

You’ve worked a corporate job for years and every once in a while, between deadlines and screaming bosses, your mind wanders to your dream of sitting in your PJs, working out of your home office in your own company. After all, you think, what could be so difficult about it? You can work when you want, as much as you want with no one breathing down your neck or insisting on impossible deadlines.

Thousands of men and women make the break each year and exit corporate America to join the ranks of home-based business ownership. Some would argue that a home-based business is just like any other business, except for the location. Well, yes and no.

Jeanine Clontz, of Accurate Business Services, which provides virtual assistance, says, “You have the same functions of any business. You must administer and manage the marketing, sales production, as necessary, handle accounts payable and receivable and have the skills and knowledge to run a business.”

In a home-based business, usually run by one person, YOU, all the functions listed above fall squarely on your shoulders! Angela Schaefer, owner of Advanced Business Solutions, explains, “A home-based business is different in that it allows you to be in control of your life. You can choose whom you work with or for. You can maintain a set schedule, have a flexible schedule, and work when you want or need to and not when you don’t. As a home-based business owner, I feel more of a sense of urgency toward projects. I am always anxious to get a job completed ahead of time and under budget and my customer service has to be far better than that of a larger company.” Schaefer’s company provides event planning, administrative assistance and other small business support functions.

Clontz believes that in some ways a home-based business is quite different from conventional businesses. She cites the lack of traditional office distractions, the ability to work late into the evenings, if needed, minimize costs as it relates to having outside office space. “Not having to deal with some of the ‘negative’ aspects of outside office space can allow the home-based business owner time and quiet to concentrate on client work,” she says.

Debbie Walker, St. Louis Web Designs, puts in many more hours, including evenings and weekends, as she develops websites for her clients. “It’s possible to work around my children’s’ schedules by working at home,” according to Walker. She admits that not having a regular paycheck is the one big way home-based businesses differ from the norm. And she doesn’t miss commuting to work!

Advice to anyone starting a home-based business:

* Choose a business that you really love. You’ll be spending a lot of time working, so be sure the nature of the business is consistent with your interests and values.

* Research your competition, their pricing and services.

* Purchase or lease the latest technological equipment. Technology makes running a home-based business easier and more efficient.

* Have your printed materials designed by a professional. The cost may seem high at first, but the return will be great!

* Build a website, or have someone else build it.

* Have a well-organized office.

* Learn to multitask. A home-based business owner fills a lot of different roles.

* Have a serious attitude about your business.

* Always dress to represent your business—even when you’re going to the post office.

* Answer your phone as you would in a traditional business.

* Go the extra mile for your clients. After all, you ARE your company.

* Don’t be afraid to outsource the responsibilities in which you are not proficient or comfortable.

* Attend training classes on a regular basis.

Working at Home Blog Carnival-Twenty-fifth Edition has chosen this article as one of its “best of the week” (March 23) picks. You can see it and many other wonderful, inspiring and informational articles at Joe: Working at Home on the Internet.

Carnival of Entrepreneurs 16th Edition has chosen this article as one of its “best of the week” (March 23) picks. You can see it and many other wonderful, inspiring and informational articles at Leah: Working Solo.

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